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The way I understand it is, bootmii lets you backup your whole system, menu and everything, I think preloader does this too but I'm not sure.

Now that backup could be used with the PC Emulator/Virtual Machine so people could test how certain things would work on their setup without actually putting their systems at risk.
This emulator shouldn't be running games, just be a fully functional system menu, ios's and everything, basically the user makes an image of their Wii's internal memory and mounts that image to the emulator/VM in a form of an ISO and tests things without actually putting their system at risk, it could also be useful for more knowledgeable people to fix other people's systems if it's a software problem and something that could be fixed but requires more advanced knowledge of things.